International AccountingModule Details

Module Description

This module considers the essential, underlying theory and concepts that are involved in the accounting sector on a global level and explores accounting procedures in organizations around the world. Students will be able to look at techniques used in international organizations globally.

Module Aim

This module aims at equipping students with knowledge of international classification of financial reporting, international diversification of securities investments and requirement of International Financial Reporting Standards (IFRS).

Module Learning Outcomes

Upon completion of the module students should be able to:
1.    Compare financial reports from different companies or countries;
2.    Debate the arguments for and against global accounting standards;
3.    Debate why global standards may or may not be appropriate for developing countries or for small and medium-sized companies;
4.    Explain why companies might list on foreign stock markets;
5.    Discuss different approaches for reporting to foreign investors;
6.    Explain why investors might want to invest in foreign companies and the approaches they may take;
7.    Explain how the development of corporate governance and corporate social responsibility are reflected in financial reporting;
8.    Assess the effectiveness of regulation in ensuring compliance with requirements for financial reporting;
9.    Define the problems of defining `transparency' in disclosure;
10.  Evaluate the initiatives being taken on developing CSR and remuneration reports;
11.  Discuss the scope of choice within IFRS and the likely effect of the IFRS/US GAAP convergence process in presentation of financial statements, fair value measurement, group accounting, segment reporting and foreign currency translation;
12.  Demonstrate how various aspects of a country's political, economic, legal, accounting and tax systems can influence accounting rules and practices;
13.  Discuss how a country might import or export accounting rules and practices.